DayStar shareholders meeting held; outcome uncertain

DayStar Technologies Inc. held its special shareholder meeting today to approve the issuance of roughly 3.3 million shares of stock to repay an institutional investor that gave the company $15 million.

The meeting was originally scheduled for Oct. 30 but had to be postponed because the company didn’t have a quorum — that is, not enough shareholders had sent in their votes on the matter.

DayStar, which makes solar cells, has roughly 6.7 million shares outstanding, held by 6,500 shareholders.

The meeting was rescheduled for today, first at 11 a.m., then at 4 p.m.

Early this evening, DayStar spokewoman Erica Dart told the Times Union that the meeting was held, but that the company will not likely reveal the results until next week.

However, it’s not difficult to determine how the vote went. DayStar said in an Oct. 31 news release that those votes that had already come in represented “overwhelming support” for the new stock issuance.